After nearly five years in the role, Andrew Hockey has informed the IOG plc board of his intention to retire as CEO and step down from the board with immediate effect.
The board of IOG recognizes the significant contribution that Hockey has made over his tenure at the company. He has agreed to remain with IOG as an advisor to the board to leverage his deep Southern North Sea geological, commercial and regulatory expertise in particular to support IOG's participation in the recently announced 33rd UK Offshore Licensing Round.
Rupert Newall will step up to become the new CEO. Having led its restructuring and farm-out to CalEnergy Resources (UK) Ltd. in 2019, and then joined as CFO, Newall has played an instrumental role in IOG's progress to becoming a UK gas producer.
In addition, David Gibson will step down as COO with immediate effect. The board has appointed Dougie Scott the new COO. Scott will be appointed to the IOG board following satisfactory completion of regulatory due diligence.
Scott has 30 years of upstream operational experience, predominantly in the Southern North Sea where he led teams delivering safe and reliable production, drilling, offshore hydraulic stimulation, green and brownfield projects. He has worked among others for Shell, RWE Dea UK and most recently INEOS Oil and Gas where over seven years he held the leadership positions of CEO, operations director and well delivery and decommissioning director.
The board also has named John Arthur CFO with immediate effect. This will not be a board position. Arthur is already a trusted member of the IOG team, having been head of finance since joining in early 2022, and was previously CFO at Aminex plc.